59 Belmont Ave
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59 Belmont Ave
5,000 SF Retail Building Brooklyn, NY 11212 $2,499,999 ($500/SF) 5.10% Cap Rate
Investment Highlights
- Redevelopment oppurtunity with a commercial retail option
- development opportunities available in conjuction with tax abatement
- Neighboring tenants include national retailers such as Domino's, Chase, and T-Mobile.
- Total FAR of 3.9 under UAP program with 19,500 SF total developable.
- 50 foot frontage
- Delivered Vacant
Executive Summary
Prime investment opportunity.
Delivered Vacant
Can also be put together as portfolio with 60 Belmont Avenue.
-59 Belmont Ave., Brooklyn NY 11212
-Zoning District: R6 C1-3
-Total Far of 3.9under the UAP (affordable development) program with 19,500 Square Feet total developable.
-HPD/HCR subsidies would be an option.(Tax abatement)
-Additional development opportunities are available under the CF (community facility) in conjuction with 485X (tax abatement)
-Building delivered vacant.
-This is a prime location with first floor at 5,000 square foot and a 3,500 square foot basement
-Transit Zone
-FRESH Zone
-50 Foot frontage
-100 Foot Depth
-12 Foot Ceiling
-Basement
-2 Zone HVAC System for ease of dividing retail space
-purchaser to perform all due diligence per development opportunities.
Delivered Vacant
Can also be put together as portfolio with 60 Belmont Avenue.
-59 Belmont Ave., Brooklyn NY 11212
-Zoning District: R6 C1-3
-Total Far of 3.9under the UAP (affordable development) program with 19,500 Square Feet total developable.
-HPD/HCR subsidies would be an option.(Tax abatement)
-Additional development opportunities are available under the CF (community facility) in conjuction with 485X (tax abatement)
-Building delivered vacant.
-This is a prime location with first floor at 5,000 square foot and a 3,500 square foot basement
-Transit Zone
-FRESH Zone
-50 Foot frontage
-100 Foot Depth
-12 Foot Ceiling
-Basement
-2 Zone HVAC System for ease of dividing retail space
-purchaser to perform all due diligence per development opportunities.
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
5,000 SF
Building Class
C
Year Built
1995
Price
$2,499,999
Price Per SF
$500
Cap Rate
5.10%
NOI
$127,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.96
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
R6 C1-3 - Medium-density Residential
Frontage
50 FT on Belmont Ave
Amenities
- Wheelchair Accessible
Walk Score®
Walker's Paradise (93)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (77)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $211,500 (2024) | |
| Land Assessment | $67,500 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $144,000 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$67,500 (2024)
Improvements Assessment
$144,000 (2024)
Total Assessment
$211,500 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Presented by
Shlomo Shaharabany
59 Belmont Ave
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